Apple Up Nine Days in a Row; Time to Buy?


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I'll admit, Apple ( AAPL ) isn't a name I'm super crazy about, as I feel it is still a crowded trade. Nonetheless, you can't argue with the facts: It has been very strong recently. In fact, AAPL was up an incredible nine days in a row.

First things first, I see a nice-looking breakout, but it is also rather over-extended in the near-term. Looking back in history, we found just nine other instances AAPL was up nine days in a row. The returns are here.

Not too surprisingly, going out a month the shares have pulled back 7.07% on average and were up less than half the time. Still, note the median drop is a more respectable 2.45% pullback. This is due to a huge drop back in 2000 skewing the results some.

Here are all the occurrences and results after nine up days. For fun, the all-time record was a 12-day win streak back in 2003. Now, take note that the 60% drop a month later back in 2000 isn't doing much to help the results. Meanwhile, the other one month later results really aren't all too bad overall.

This article by Ryan Detrick was originally published on Schaeffer's Investment Research .

Below, find some more great content from Schaeffer's Investment Research:

Daily Game Plan - More Record Highs

Chart of the Day: Hertz Global Holdings ( HTZ )

Trading 101: Will We Grind Higher?

Twitter: @schaeffers

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Technology
More Headlines for: AAPL , HTZ

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